I was on a train from Oxford to London the other day. The other two travellers in our 'bay' appeared to work in the mobile industry and were talking about the iPhone - I overheard a couple of snippets.
Firstly, they were absolutely adamant that Orange (UK) was getting an Apple phone, mentioning the Orange head of engineering (or somesuch, can't remember the exact title) as their source - though saying he was initially reluctant to admit it.
They also suggested that the phone Apple would be getting was not the "iPhone", but was an "Apple phone" of some type. That way, they said, O2's exclusivity wouldn't be an issue.
They then went on to say that the phone would be more basic than the main iPhone - "more like an iPod Touch with GSM" (that's an exact quote, I remember it).
Personally I doubt there was any technical insight behind the statements. But the idea that there would be a basic model, and that Orange would be selling it, was the interesting bit.
That's all I overheard. Both of them fell asleep after that until arriving at Paddington so I couldn't get any more!